Cost Accounting questions and answers in December 2022

If a steak has a food cost of $5 and a price of $20, the food cost percentage is 25%.  If we sell 20 steaks was is the food cost percentage?             If 40% of dollar sales is used to cover ...
Walker is the owner of Walker's Racers and expects sales of 9000 racers this period at a price of 95 per racer. His beginning finished good inventory includes 4000 racers from last period that each ha...
CVP Analysis of Multiple Products Alo Company produces commercial printers. One is the regular model, a basic model that is designed to copy and print in black and white. Another model, the deluxe mod...
Discuss Schein's three layers of culture. Discuss organizational learning. How does culture help humans to solve problems? How is scenario planning different from strategic planning? Describe how you ...
 . Special Order A manufacturer of specialty components for farming equiptment, Khaing Hira, Inc. produces one of the components with the following full unit costs for 50,000 units: Direct materials ...
Bridgewater Toys Ltd. manufactures skateboards, boogie boards and scooters. Bridgewater has always allocated the indirect manufacturing overhead based on direct labour hours at a rate of $25 per hour....
Information relating to direct materials and direct labour during the last period at Greencorn Company is as follows:  Flexible budget for direct materials totaled $220,000 Flexible budget for materi...
 . It is budget season and Patrocinio Amable, Inc is planning for next year and requires a breakdown of the factory overhead cost into the fixed and variable elements. The following data on the OH co...
write 500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and us...
1. Sportway Inc. produces high-quality tennis racquets and golf clubs using a patented forming process and high-quality hand-finishing. Products move through two production departments: Forming and Fi...
Oliver manufacturing Ltd uses process costing in their company. The company manufactures its products and the products go through four [4] different processes for them to be ready for sale in the mark...
47 At the end of Year 1, Rome Inc. held marketable debt securities classified as available-for-sale. The securities were carried at fair value of $57,320. Rome has a $2,500 credit loss and a market ri...
16 Zeff Co. prepared the following reconciliation of its pretax financial statement income to taxable income for the year ending December 31, Year 1 (its first year of operations): Pretax financial in...
14 According to current generally accepted accounting principles, justification for the method of determining periodic deferred tax expense is based on the concept of A. Matching of periodic expense t...
12 When valuing certain financial instruments, a company that has elected the fair value measurement option must apply the accounting measurement based on which of the following criteria? OA. A portio...
Reflect back on the Accounting Theory course as a whole • What are the top three things that you have learned from this course, or the top three things you've "gotten out of" this course? In other w...
 . The Greensboro Performing Arts Center{GPAC] has a total capacity of7,?00 seats: 2,000 center seats, 2,500 side seats, and 3,200 balcony seats. The budgeted and actuai tickets sold for a Broadway m...
 . Freedom Corporation acquired a fixed asset for $150,000. Its estimated life attime of purchase was 4 years, with no estimated salvage 2.] Required: 1. What is the incremental present value ofthe t...
 . Calculate the net after-tax cash flow effect of the following information using both the indirect and direct methods: sales, $220; expenses other than depreciation, $110; depreciation expense, $60...
thank you. 10 Shimada Products Corporation of Japan plans to introduce a new electronic component to the market at a target selling price of $15 per unit. The company is investing $8,800,000 to purcha...
please help. 7 Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the company can produce and sell 50,000 Rets per year. Costs associated with this level of p...
 . Sparks Corporation has a cash balance of $18,900 on April 1. The company must maintain a minimum cash balance of $15,500. During April, expected cash receipts are $67,000. Cash disbursements durin...
          Questions: VMD Medical Imaging Center Case Study 1. Assuming that VMD MIC competitors have an accurate costing system, what are the char- acteristics of jobs (services) that VMD MIC is ...
Aaron's chairs is in the process of preparing a production cost budget for August. Actual costs in July for 120 chairs were: Materials cost $4,780 Labor cost 2,640 Rent 1,500 Depreciation 2,500 Other...
ABC and CVP Analysis: Multiple Products Good Scent, Inc., produces two colognes: Rose and Violet. Of the two, Rose is more popular. Data concerning the two products follow:   Rose Violet Expected sal...
Break-Even, After-Tax Target Income, Margin of Safety, Operating Leverage Rahm Company produces a single product. The projected income statement for the coming year, based on sales of 160,000 units, i...
CVP Analysis of Multiple Products Alo Company produces commercial printers. One is the regular model, a basic model that is designed to copy and print in black and white. Another model, the deluxe mod...
ACRS, NPV Lilly Company is planning to buy a set of special tools for its grinding operation. The cost of the tools is $18,000. The tools have a three-year life and qualify for the use of the three-ye...
Basic Concepts Sato Company is considering an investment in equipment that is capable of producing more efficiently than the current technology. The outlay required is $2,133,333. The equipment is exp...
ABC Corp. has two classes of stock issued and outstanding -    common stock, and  nonvoting preferred stock.    Both the common and the preferred stock are traded on the New York Stock Exchange. ...
Sato Awards has had a request for a special order of 10 silver-plated trophies from the provincial tennis association. The normal selling price of such a trophy is $384.00 and its unit product cost is...
Ovation Company has a single product called a Bit. The company normally produces and sells 31,200 Bits each year at a selling price of $33 per unit. The company's unit costs at this level of activity ...
Everything is there for what is needed. That is all the information I have. . Requirement 3. Should Jessie's Bakery purchase the new oven? Provide support for your answer. Begin by selecting the rele...
  Help please. The Chicago Corporation manufactures filing cabinets in two operations: machining and finishing. It provides the following information: (Click the icon to view the department informati...
help. Body Sculptors, Inc., produces two basic types of weight-lifting equipment, Model 9 and Model 14. Pertinent data are as follows: 1(Click the icon to view the data.) The weight-lifting craze sugg...